The Consumer Financial Protection Bureau on Thursday fired the opening shot in a long battle over new regulations for payday loans that the bureau says will eliminate so-called debt traps and will likely reshape the market for short-term credit offered by a host of financial institutions.
A group of state attorneys general on Thursday won their bid to block the U.S. Department of Labor from enacting a new rule under the Family and Medical Leave Act that would extend protections to same-sex couples when a Texas federal judge granted a preliminary injunction.
Bankrupt Texas power giant Energy Futures Holdings Corp. is not liable for a penalty of two-thirds of a billion dollars for early repayment of $4 billion in senior bonds, a judge ruled Thursday.
A group of 22 companies and individuals on Thursday agreed to pay nearly $5 million in disgorgement and $1 million in penalties to settle the U.S. Securities and Exchange Commission’s allegations that they regularly bought and sold securities on behalf of a suburban Chicago-based trading firm without registering with the agency.
LightSquared Inc. secured a judge’s approval Thursday for a bankruptcy reorganization that lets the wireless startup repay its debts, try to revive a failed nationwide network and retain an ownership stake for Philip Falcone’s hedge fund after three years of intense confrontations with creditors.
The U.S. House of Representatives on Thursday passed a bill intended to put in place a permanent “doc fix” to replace Medicare’s unpopular physician reimbursement system, commonly overridden by lawmakers each year.